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Revenue assumptions

Revenue assumptions

The table below shows a summary of the proposed changes to the base budget, used in developing the estimated budgets for each of the subsequent financial years, 2014-2019. The key points to note are as follows:

  • An assumption that Council Tax increases will be 2% for the 5 year period 2014-19.
  • An estimate of a 1% pay award for all staff groups has been used in each of the five financial years.
  • Increments are applied to service support staff, up to the point where they reach the top of the scale.
  • Price increases are based on an annual inflation rate of 3% in each year.
  • An increase in employer contributions to both of the firefighter pension schemes is anticipated in 2016/17 (£800k).
  • The contracted out National Insurance rate will be abolished in 2016/17 with a potential cost to the Authority of £949k.
  • The impact of changes to pension schemes in 2014/15 (£43k) and 2015/16 (£150k).
  • The back dating of pension contributions relating to the Norman v Cheshire FRA case in 2015/16 (£90k).
  • The cost of auto enrolement into the pension schemes will impact in 2017/18 (£248k).
  • An assumption that the Council Tax base will increase by 0.5% in each financial year between 2015/16 and 2018/19.
  • It is prudent to assume at this point in time that there will be no surplus or deficit on the collection funds in future years.
  • Government Grant will reduce by 9.7% in 2015/16 with further average reductions of 6.5% in each of the next three years.

 

Revenue Budget 2014-2019  
  2014/15
Budget


£'000
2015/16
Budget


£'000
2016/17
Budget


£'000
2017/18
Budget


£'000
2018/19
Budget


£'000
Base budget brought forward 70,936 70,521 68,788 67,949 67,238
Pay, Prices and Pressures 2,774 1,624 2,876 1,906 1,554
Savings -3,189 -3,357 -3,715 -2,617 -2,093
Net Budget 70,521 68,788 67,949 67,238 66,699
Net change -415 -1,733 -839 -711 -539
Net change % -0.6% -2.5% -1.2% -1.1% -0.8%
      
Budget funded by:     
Revenue support grant 12,959 10,115 26,241 24,535 22,940
Share of retained business rates 2% 6,054 6,225      
Council Tax support grant 5,418 5,418      
Council Tax freeze grant 2011/12 1,075 1,075      
Top up 4,611 4,798      
Council Tax freeze grant 2013/14 434 434      
Amount redistributed 39 0      
Council Tax 39,746 40,723 41,708 42,703 43,759
Council Tax surplus 185 0 0 0 0
Total Funding 70,521 68,788 67,949 67,238 66,699
      
Council Tax Base 573,536 576,407 579,289 582,185 585,096
Band D Council Tax £69.30 £70.65 £72.00 £73.35 £74.79
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